Your third job interview is winding down, and your future boss finally makes a financial offer. But the salary is much lower than you expected. Or (good problem to have) the salary is much higher than you ever dreamed. What you do next can make a huge difference in your long-term finances. Here are steps to take.
The offer is lower than you expected
First, don't say or do anything right away. If you've made it to the third interview and an offer, it's clear the company wants you. That's why it's a good idea to wait before bringing up money. If you let the silence stretch on long enough, your future boss may become uncomfortable and make a higher offer.
Make the ask
If no higher offer is forthcoming, muster up all your tact, smile, and say, "I really would like the opportunity to work here. I was hoping for a higher starting salary. Are you able to go any higher at all?" Then, keep quiet again. Anything you say after that statement is likely to sound like rationalizing and backpedaling.
Plan to revisit
If your future boss doesn't offer more money, ask them to revisit the issue in a set time period, for example, after three months, and get them to commit to it in writing.
Ask for other benefits
If your interviewer doesn't or can't offer more money, don't walk away. Instead, be ready to ask for nonfinancial incentives that would make you happy. Consider asking for an extra week of vacation, the ability to work from home one or two days a week, educational benefits, and/or flexible hours.
Look at the industry and the long-term
Even if the offered salary is less than what you're making now and less than your goal, look down the road. If your salary is topped out in your current job or career path and the new job gets you into a field where salaries keep going up, the lower salary could pay off later.
The offer is much higher than expected
If the job offer is more generous that you ever dreamed, do not let your surprise show on your face. It's a good time to start asking questions. Ask about your responsibilities, what factors will determine growth and success, and what your future boss thinks you bring to the table.
Practice at home
Finally, to prepare for unexpected salary offers, practice at home in front of a mirror alone or with a partner. Have your partner offer you an almost insultingly low salary and practice your negotiating techniques. If you learn your lessons well, your hourly rate for those five minutes of silence and negotiating could be outstanding over the course of that position.
